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Imagine if copper miners held on to copper in the hope that it will go up in price. Taking a risk that is both unnecessary and unrelated to your business is st
by lottin 4y ago
Imagine if copper miners held on to copper in the hope that it will go up in price. Taking a risk that is both unnecessary and unrelated to your business is stupid. That's the opposite of what a well-run business does.
- britneybitch 4y agoThat behavior is more common across industries than you might think. One example: https://markets.businessinsider.com/news/commodities/natural-gas-europe-lng-ships-wait-offshore-maximize-price-rise-2022-11 https://markets.businessinsider.com/news/commodities/natural...
- latchkey 4y agoCopper miners control production output [0], which defines the price. Bitcoin miners don't directly control production. They'd need to fork and get 51%+ to follow that fork. [0] https://seekingalpha.com/article/4546309-ivanhoe-mines-upside-potential-awaits-copper-next-rally https://seekingalpha.com/article/4546309-ivanhoe-mines-upsid...
- deleted 4y ago[deleted]
- fbdab103 4y agoYou mean like OPEC does on a fairly regular basis?
- nikanj 4y agoAt least bitcoins are absolutely useless, so a bitcoin shortage doesn’t affect anything